PC World Elite Mastercard vs SimplyCash™ Preferred Card from American Express
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
20,000 PC points ($20 value)
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$284
First-year value
$609
$264
Every year after
$409
Amex SimplyCash™ Preferred is worth $326 more to you in year one.
It stays ahead after that, by $146 a year.
How the first year adds up
Annual rewards
$263.51
263,508 points a year
Welcome bonus
+ $20
first year only
Annual fee
− $0
no annual fee
First-year value
$283.51
Annual rewards
$529.07
cash back a year
Welcome bonus
+ $200
first year only
Annual fee
− $119.88
First-year value
$609.19
Where each card earns
A year of your spending at each card's own reward rates, most first.
30xParticipating grocery stores at President's Choice rewards
27,084 pts
$27.08
19xESSO, MobilGas
4,920 pts
$4.92
45xShoppersDrugMart
4,044 pts
$4.04
10xAll other purchases
227,460 pts
$227.46
4%Groceries
$92.88
4%Gas
$79.49
2%All other purchases
$356.82
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
21.99%
Cash Advance:
22.97%
Purchase:
21.99%2
Cash Advance:
21.99%2
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 45 points per $1 dollar spent at Shoppers Drug Mart® stores
- 30 points per $1 dollar spent at Atlantic Superstore, Extra Foods, Fortinos, Loblaws, Maxi, Maxi & cie, no frills, Provigo, Real Canadian Superstore, SaveEasy, SuperValu, valu-mart, Your Independent Grocer, Zehrs
- 20 points per $1 spent in PC travel
- 19 points per $1 dollar spent at ESSO and Mobil (it's 30 points per liter and the assumption of average gas price of $1.6 was made)
- 10 points per $1 dollar spent for everything else
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Points and how we value them
Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.
Loyalty program
Loyalty program
We count each point at 0.1¢ a point, what it's worth redeemed for Groceries, its best value. Every dollar figure above uses that value.
Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.
Point redemption options
Point redemption options
Most Optimal
Groceries
0.1¢ / point.svg)
Gas (Esso)
0.1¢ / point
Statement Credits (Cash)
0.07¢ / point
Nothing to redeem: it pays cash back.
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
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Car Rental Damage & Theft
Up to 31 days
Extended Warranty
Doubled up to a year
Purchase Protection
90 days
Travel Medical Insurance (64 & under)
$1M, Up to 10 days
Car Rental Damage & Theft
$85K up to 48 daysExtended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
$5M/insured Person
Lost or Stolen Baggage
$500
Baggage Delay
$500
Common Carrier Travel Accident Insurance
$100,000
Mobile Device Insurance
$1,000
Hotel Burglary Insurance
$500Flight Delay
$500
Perks
Perks
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Concierge Services
Identity Theft Assistance
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Our take
Why we like it
Why we like it
This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Pros
Pros
- No annual fee
- Decent insurance
- Decent rewards
- High cashback rates
- Solid base rate
- Comprehensive insurance
- Instant decision. No credit impact.
Cons
Cons
- Limited rewards
- Income requirements
- Annual cashback redemptions
- Lower acceptance
- Annual fee
More comparisons
Other cards we've put each of these up against.
vs Amazon Rewards Mastercard
vs Amex Aeroplan Reserve
vs Amex Aeroplan®
vs Amex Cobalt
vs Amex Gold
vs Amex Green
vs Amex Marriott Bonvoy
vs Amex Platinum
vs Amex SimplyCash
vs BMO CashBack World Elite
vs CIBC Aeroplan Visa Infinite
vs CIBC Costco Mastercard
vs RBC ION+ Visa
vs Rogers Red
vs Rogers Red World Elite
vs Scotia Momentum Visa
vs Simplii Financial Visa Card
vs Tangerine Money-Back
Legal
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
